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A few people have been asking about my thoughts on GroupOn.  This post presents some general observations on their business model and the impact on local promotion marketing.  Soon, I’ll take a look at how we view and apply this learning in our business model at Closely.

As a consumer, and as an entrepreneur, I love GroupOn.  They have build real velocity into a large market need and space, executing exceptionally well on a quality business model.   I also am impressed how they have backed their brand strategy with real attention to customer service.  For those not familiar with GroupOn, explore here.

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Kudos to the Denver Post for having the gonads to ask consumers about the value proposition of micro payments. This kind of transparency is refreshing.

While consumer research like this can’t be relied on for detailed forecasting, the sentiment is overwhelming.  Sorry, newspapers, this math don’t hunt!

You’ll just have to innovate like the rest of us.

image credit: motherjones.com

Somehow, the time feels right for some fresh/absurd, Hail Mary thinking when it comes to evolution in the troubled Local Media landscape.

When I look at the problems infecting two major sectors of local media  – newspapers and yellow pages – an idea springs to mind.  Try it on…

Slam them together into one integrated local media business.  Collapse redundant distribution and operations, re-align and trim the sales forces. Infuse the newspaper’s strength with promotion and retail into the scalable SEM/search infrastructure of the YP channel.  Construct a true local consumer portal and promotion channel that has local search and promotion embedded throughout.  Trim out the low-value display ad junk and create real local shopping applications that generate leads and solve consumer problems.

In the off-chance that you’re still reading, perhaps I can explain my thinking a bit more.

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